Non-current assets are assets that are bought by the business for use in the short term.2. Investments are long-lived assets that are not used in the normal operations and are held for future resale.3. Revenue expenditure is not charged as an expense in the statement of profit or loss, although a depreciation or amortisation charge will usually be made to write off the revenue expenditure gradually over time.4. Fair value is the amount at which an asset is recognized after deducting any accumulated depreciation and impairment losses.5. The difference between a fixed asset's initial cost and its residual value is called the asset's depreciate cost.6. The double-declining-balance method provides for the same amount of depreciation expense for each year of the asset's useful life.

1. Non-current assets are assets that are bought by the business for use in the short term.
2. Investments are long-lived assets that are not used in the normal operations and are held for future resale.
3. Revenue expenditure is not charged as an expense in the statement of profit or loss, although a depreciation or amortisation charge will usually be made to write off the revenue expenditure gradually over time.
4. Fair value is the amount at which an asset is recognized after deducting any accumulated depreciation and impairment losses.
5. The difference between a fixed asset's initial cost and its residual value is called the asset's depreciate cost.
6. The double-declining-balance method provides for the same amount of depreciation expense for each year of the asset's useful life.